Energies
Oil prices fell sharply on Thursday and losses intensified during the Asian session on Friday. West Texas Intermediate lost 3.6% and fell to $61.12 before the London session. WTI is currently trading nearly the weekly lows. Moving averages MA(5) and MA(10) show a strong bearish crossover with MA(30).
MACD is nearing the zero line after slowing down in the selling pressure. An upside correction towards $61 is expected before prices continue to decline.
West Texas Intermediate (USOUSD) 1H Chart
| Resistance | $60.65 | $60.95 | $61.24 |
| Support | $60.08 | $59.83 | $59.55 |
EURUSD jumped more 70 points in yesterday’s trading as the dollar weakens. The pair briefly touched 1.1390 before falling again. Price is moving toward moving average MA(30) as the moving averages MA(5) and MA(10) show a bearish crossover.
MACD is moving below the zero level. Eyes on the 1.1300 level in today’s session.
EURUSD 1H Chart
| Resistance | 1.1390 | 1.1407 | 1.1420 |
| Support | 1.1324 | 1.1297 | 1.1261 |
US indices experienced volatile trading on Thursday. Nasdaq fell 0.9% and broke the short term uptrend. The MACD shows signs of recovery as it touches the zero level again. Following the bullish crossover of moving averages MA(5) and MA(10), eyes are now on the 21,500 levels.
Breaking above the 21,500 and closure of hourly candles beyond this level opens the door for more bullish momentum towards 21,800
Nasdaq 1H Chart
| Resistance | 21,426 | 21,567 | 21,640 |
| Support | 21,220 | 21,136 | 21,084 |
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